If the Income Elasticity of Demand for Tea Is 0

question 86

Multiple Choice

If the income elasticity of demand for tea is 0.50, tea is a

• A) substitute for coffee.
• B) luxury good.
• C) normal good.
• D) complement of coffee.

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Definitions:

Cyclic Pathway

A series of biochemical reactions that occur in a sequence where the last step regenerates a reactant for the first step, forming a cycle, such as in the citric acid cycle.

Fossil Fuels

Natural fuels formed from the remains of ancient organisms, such as coal, oil, and natural gas, used as a source of energy.

Photosynthetic Organisms

Organisms that convert light energy into chemical energy through photosynthesis, using water and carbon dioxide to produce oxygen and glucose.

Chlorophyll A

Main photosynthetic pigment in plants.